Loan scenario: OH, $75,000, 780, 60% LTV, Refinance, full, NOO
Property type: TTF
Loan purpose: Refinance
Got a friend that purchased a 2 family investment on credit cards last year in a suburb of Cleveland OH. He wants to do a cashout refi and payoff the cards. 60 ltv based on current rehabbed value, 780 score, $150k reserves in Ira's, but 55% dti.
Anyone do this?
by Vinnie The Leg Breaker August 18, 2012 4:28 PM
FAST AND RELIABLE Private loan firm in conjunction with the JV mortgage express here in Texas in the United state, I wish to inform you that our Loan Organisation is capable on handling your loan request.
I wish to inform you to kindly place a request today with our organisation FAST AND RELIABLE private loan firm for a quick loan.
contact email: email@example.com
by FAST AND RELIABLE August 18, 2012 5:46 PM
You find ‘em Vinnie! Obvious first thought is why someone would opted for high credit card interest rate to finance real estate. Second thought is how you get around “unconscionable acts” in the ORC. Don’t think the relief valve of lower payment of existing “loan” is going to work since “debt” is not against the property.
Good luck but I do see a potential 1345 issue. Could come back to haunt you as the broker. You could always argue that if Fannie accepts a 55% housing debt ratio on mods ipso facto a 51% TDR is within the borrowers’ ability. Apples and oranges though.
by c-f-s August 19, 2012 12:54 PM
WE CAN DO THIS LOAN FOR YOU. I AM DIRECT
MARKETING AGENT FOR DIRECT LENDER FOR
RESIDENTIAL AND COMMERCIAL REAL ESTATE. WE
1-UP TO 65% LTV
2-QUICK CLOSE:12 TO 15 DAYS
3-NO UPFRONT DUE DILIGENCE FEES
4-TERMS:12 TO 36 MONTHS
5-LOANS STARTING AT:$50K TO $10,000,000
PLEASE CONTACT ME AT:firstname.lastname@example.org
by TIMSUB August 19, 2012 2:41 PM
Are you in dire need of an urgent loan from a legitimate lender or are you in need of an investor?
Here is the opportunity you have been looking for, You can get your heart desire here and you are guaranteed of getting your loan from us because we help people in who are in need of financial assistance.
We offer all kinds of loan like:
1). Auto Loan
2). Student Loan
3). Personal Loan
4). Home Loan (Mortgage)
5). Business Loan
6). We also invest.
Our goal is to meet all financial needs and make sure we give you the best service quality, customer service.
You can contact us now at: email@example.com
We hope to hear from you soon,
Financial Aid Credit Union.
by craigm August 19, 2012 11:12 PM
I can help you with a loan,get back to me asap if you need a loan so that i can help you
by cystal August 20, 2012 8:26 AM
Doing one similar in your area now contact me.
We are a direct source to private funds and our no nonsense approach and years of experience allows us to pre approve your loan the same day. We charge NO UPFRONT FEES. If we cannot help you - you will know it without delay and it will cost you nothing to find out. Credit is not a major deciding factor for us.
REHAB LOANS - Residential
• Purchase or Refinance
• 1-4 family
• Up to 75% of purchase price
• Stated Income
• Interest Only
• 1 to 5 yr term
• No Credit Requirements
• Fix and Flip
• Complete Construction
• Land (in some states)
• Non-owner occupied, SFR 1-4 units
• Properties that are cross collateralized
• Small balance condo projects
• Multi-family homes, 5+ unit properties
• Mixed use projects
• 75% ARV loans
• Strip malls, retail commercial, office buildings, office condos, warehouses and light industrial, self storage, land in some states
• Hotels/Motels, Restaurants, Bars, Gas Stations, Auto Repair.
• Ground up construction.
NO upfront fees
• Rates from 6% to 12%+
• NO FICO requirements - ALL credit OK
• Recent BK / Foreclosure / Short Sale - ALL OK
• Up to 75% LTV for purchase
• Up to 70% LTV for refi's
• Up to 75% of purchase price for rehab fix & flips!
• 1st, 2nd, and 3rd mortgages case by case
CONTACT: MARC JONES
by cashagents70 August 22, 2012 9:14 PM
To Whom it may concern;
Are you in need of financial assistance " Loan " or Investor?
Credit Solution offers an extensive range of Business Loan, Auto Loan, Personal Loan, Student Loan, Home Loan (Mortgage) & Investment.
Following the successful implementation of its initial wholesale based strategy, Credit Solution has expanded its activities to include a range of loan and saving products and services tailored to the needs of Individuals and Companies.
For more informations, Kindly contact us at: firstname.lastname@example.org
We wish to serve you better and total satisfaction is guaranteed.
Telephone: +44 702 403 5507
by creditsolut October 29, 2012 9:30 AM